Take a quick look at the brave new world that is renewable energy and with it the end of coal.
Of course, this has been followed up with a steady stream of hysteria. Stern-faced weather-men, weather-women, and weather-people insist we’re facing apocalyptic heat, or cold, or rain or cats coming down, even dogs. Either way, New York is soon to be underwater… or is it dry as a bone? Depends on the day and weather-people, I guess.
One does have to wonder at what point folks wake up. Perhaps literally it takes place when one wakes in the morning, pulls back the curtains, and sees the sun shining and a beautiful day ahead… right after having heard the night before from some spineless diversity hire on the idiot box that Armageddon is surely coming… because, climate change. I often wonder about these things.
It’s worth remembering that the witch burning in the so-called Dark Ages lasted for nearly a decade and by some accounts only stopped when they began running out of women, so it’s entirely possible that this hysteria continues unchecked for a long time.
What warms the cockles of my heart (I’m not sure what cockles are but mine are warm) is that clearly many countries either see this for the obvious nonsense it is or they simply look at the option of baking or freezing (depending on where they live and perhaps the seasons), and conclude that they are unprepared to give up on the central heating or air conditioner. Maybe it has something to do with the fact that the “elites” who are telling them to stop showering do so from the comforts of one of their multiple mansions after landing their private jets. Either which way, electricity consumption seems to be continuing unabated — as we promised it would.
Here’s a neat infographic of what powered the world last year.
It’s almost as if coal isn’t going away anytime soon. Wow! “You mean to say the pointy shoes with their “modeling” of outcomes are about as far off as Neil Ferguson was on the COVID hysteria.
And now as ZeroHedge reports, Fortescue Metals just halted playing the carbon offset game.
Backfire: World’s Fourth Largest Iron Ore Producer Stops Purchasing Carbon Offsets
We are the only heavy emitter in the world to stop purchasing voluntary offsets,” Dino Otranto, chief executive officer of Fortescue’s metals business.
Good for them! Carbon credits are a giant scam — the modern day equivalent of purchasing indulgences from the church.
Fortescue may be the first, but they will not be the last. Watch!
Then, we have Hungary…
All of this points to energy wars, and energy wars are never deflationary. They are most certainly not bearish for energy assets, so…
WEAPONIZING ENERGY
Here’s what just happened…
As mentioned before, it isn’t solely about supply and demand, but the ability to move goods can and does impact prices. Basically, disruptions in supply chains.
What is happening here is actually not Putin weaponizing uranium, but rather the fact that to move the uranium out of Russia and Russian-controlled countries requires shipping, and the insurers are unwilling to insure the ships. So now they don’t move.
Couple all of this with the higher costs of capital as interest rates continue to rise and bonds collapse, and we will continue to see shippers, miners, all need to factor in a much higher cost of capital when looking at bringing on new supply. It’s a good thing they’re not capital intensive businesses heh!
Keep in mind that this dynamic isn’t unique to the uranium market. It’s especially true in the coal and oil and gas markets too.
Editor’s Note: The Western system is undergoing substantial changes, and the signs of moral decay, corruption, and increasing debt are impossible to ignore. With the Great Reset in motion, the United Nations, World Economic Forum, IMF, WHO, World Bank, and Davos man are all promoting a unified agenda that will affect us all.
To get ahead of the chaos, download our free PDF report “Clash of the Systems: Thoughts on Investing at a Unique Point in Time” by clicking here.
The post Here’s Why the End of Coal is Just Another Failed Utopia appeared first on Doug Casey's International Man.